Canada Life Assurance Co. has increased its guaranteed term interest rates. The new rates are in effect until March 3.

“With volatility continuing in the equity markets and uncertainty in economic markets, many investors are nervous about investing and may shy away from making RSP contributions. They need a solution that allows them to continue to save for retirement, but provides them with peace of mind,” said Mark Cummings, Vice President of Individual Wealth Management at Canada Life. “Canada Life is responding by enhancing interest rates on a variety of guaranteed terms, and giving clients the opportunity to add an element of safety and security to their portfolios this RRSP season.”

Examples of Canada Life’s new interest rates include:

  • 30 day –1.30%
  • 90 day –1.80%
  • 1 year — 3.05%
  • 3 year — 3.80%
  • 5 year — 4.40%